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China’s Factory Activity at Four-Month Low
Chinese manufacturing is growing more slowly this month that it has since November, according to HSBC Holdings plc.
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Chinese manufacturing is growing more slowly this month that it has since November, according to HSBC Holdings plc.
The London-based bank's preliminary purchasing managers index slid to 50.4 from 52.3 in January. Any reading above 50 indicates expansion. February would be the fourth straight month of growth after 12 months of contraction.
HSBC says export orders dropped, and output and total orders increased at a lower pace. But the bank opines that the Chinese economy remains on track for a gradual recovery.
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